The position at a glanceThe Prime Brokerage team is a part of the Financial Accounting and Reporting Group. The main tasks of the team are to maintain the ledgers under its responsibilities for all the North American entities and maintain a proper control environment, to actively participate in the implementation of new accounting standards and projects with accounting impacts and improve processes and create efficiencies to increase the added value of Corporate & Institutional Banking in the Region.
In detailThe Assistant Vice-President of the Prime Brokerage team is responsible for the day-to-day maintenance and control of the general ledgers for the entities and products under his / her responsibility. When applicable, he / she coordinates investigations, review of ledgers and potential accounting adjustments with the operations and reporting teams that he / she supports. He / she must also assist the Vice-President in terms of team management, project management and closing periods.
Accounting & Control Functions- Assist the Vice President with the day-to-day production tasks during the closing period.
- Help the Vice President manage large scale projects for the team.
- Be a mentor and coach the less experienced team members to help them complete investigations and reporting related questions.
The team is responsible to :
- Perform month-end financial closing for their entities (under IFRS and US GAAP).
- Enforce controls and ensure that balance sheets are in balance; prepare balance sheet reconciliation schedules.
- Pull together the data necessary to feed the profitability tools.
- Review ledgers, perform accounting entries and transaction analysis for a set of entities.
Activities/entities are allocated in accordance with the accountant's experience and thecomplexity/volume of transactions recorded by the entity. Activities include:
- Working with Operations to ensure accurate reporting at deal-level or portfolio-level.
- Performing second level review of the operational reconciliations performed by the back offices.
- Preparing the transaction and revenue allocation by profit center for performance management purposes.
- Review daily transactional account activity/daily ledgers for posting errors and back-value transactions.
- Review impairment on financial instruments in accordance with the Group rules.
Perform monthly management revenue processing of assigned entities including, but not limited to:
- Reviewing, adjusting, and maintaining the profitability database.
- Maintaining analytical balances.
- Communicating and resolving differences with counterparts.
- Analyze, reconcile, and review all accounts under their responsibility by performing a variance analysis of corresponding revenue/balance sheet items, highlighting trends, and following up on questions/ concerns.
- Prepare and book daily/monthly entries as necessary (under IFRS and US GAAP).
- On a timely basis, provide complete and accurate financial data to the various reporting teams and to management for report production (under IFRS and US GAAP).
- Provide assistance in responding to questions from the external auditors, Client Service Team, Operations, reporting teams and other by:
- Ensuring prompt resolution and follow-up of questions / requests for information;
- Escalating problems / issues to the platform head.
- Providing quality service to other teams / groups.
Projects, Systems Support, Operational Process Improvements
• Participate in the upgrades/version releases of respective reporting tools, as well as system amendments/enhancements required to facilitate new/modified reporting requirements. In connection with this effort, assist in user acceptance testing and trouble-shooting after deployment.
• Assist in identifying operational process improvements in production, control procedures, and workflow organization to increase the team's efficiency and effectiveness. Also assist in integrating and streamlining the reports under the team'sresponsibility.
• Assist in implementing various changes of accounting schemas within the systems (IFRS and US GAAP).
• Assist operations with the review of complex transactions and how they will be managed in the systems, reported in the financial statements and in the performance management tools.
Work conditions: This position provides for standard working conditions in an office and a normal work schedule from Monday to Friday.
The strengths and skills that will help you succeed- Bachelor degree in Accounting from a reputable university. CPA CA designation.
- Minimum 5 yearsof financial and/or management accounting experience, preferably from an accounting firm (Big 4 or medium-sized) or within the Financial Services/Banking Industry.
- Knowledge of English is required. *
- Ability to deliver/ be result driven: Be a self-starter and team player, able to work independently and collaboratively with various teams in a deadline-focused environment; strong communication skills, both written and verbal.
- Ability to develop and leverage networks: Professional posture to develop and maintain key relationships with the business lines and back office transactional contacts.
- Analytical ability: ability to learn new systems and products quickly; effective analytical, organizational, and problem-solving skills.
- Working knowledge and understanding of generally accepted accounting principles, both IFRS and US GAAP (an asset) and regulatory and tax accounting rules and regulations; Basic capital market products and prime brokerage knowledge.
- Excellent Excel skills (including pivot tables, VLOOKUP, SUMIF).
- *Given the vast majority of our clients, both internal and external, are based outside of Quebec and Canada, specific language requirements may apply. Professional working proficiency in English language is required.
While the description above describes our ideal candidate, we encourage applicants to apply even if they do not fully meet the complete list of qualifications noted
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